Jul 09, 2020 (China Knowledge) - HG Technologies (300847) to start trading on the Shenzhen ChiNext Market today, at a public offering price of RMB 6.94 per share, raising RMB 342.42 mln. Its initial listing shares account for 25% of total outstanding shares. The company’s initial price-to-earning ratio (PE) stands at 18.
Haitong Securities, China Dragon Securities acted as the lead underwriter, and Haitong Securities served as the sponsor for the IPO.
Earlier, HG Technologies said its IPO was 3,063 times oversubscribed. Since 2019 to date, A-shares IPOs achieved median oversubscription of 2,373 times and the highest at 8,375 times. We expect the IPO to hit limit of 44% increment in its first day of listing. For subsequent 30-day trading the performances can be obtained from our China IPO Weekly.
HG Technologies Co Ltd, located in China, manufactures and wholesales Organic Photo Conductor (OPC) drums and toner for laser printers and copiers branded with HP, Samsung, Canon, Lexmark, Xerox, Sharp, Panasonic, Xerox, etc. The Company was founded in June 2000.
In financial year 2019, HG Technologies garnered a total revenue of RMB 815.66 mln, up 17% YoY. In terms of net income, it achieved RMB 77 mln, up 13% YoY. Accordingly, return on equity (ROE) and return on asset (ROA) stood at 11.85% and 9.68% respectively, earning per share (EPS) of 0.52 RMB.
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